The Billing & Collections Adviser - Issue #18 - January 2018
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Billing & Collections Adviser
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Who's Got Your Six?  We Do.

Did you know that the most dangerous part of running a business is collecting bad debt? The minefield that we, as a collection agency, must navigate day in and day out applies to anyone collecting bad debt. So, when it comes down to the actual act of collections it’s more than fair to ask, “Who’s got your back?”

The simple answer to this is that we do. Why take the unnecessary risk of navigating through this burdensome minefield of red tape, judicial decisions and regulatory complexity that currently complicates these efforts?  It’s hard work and it really should be left up to reputable professional firms to handle on your behalf, helping you avoid unnecessary risk.

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road sign reading tax time ahead
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Top Five Ways to Increase Your Collections ROI

With the holidays behind us, let’s not forget to be thinking about ways in which we can preparefor the relief that many of your patients and customer will come into during tax season. You may be thinking that it’s way too early to start thinking about what happens in February, March and April but, in truth, the first recipients of tax returns will be getting them by mid-January while the peak for tax returns quickly follows in mid-February! That’s not a lot of time to prepare unless you start doing so now.

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Addressing Communications Options in Patient Agreements

It is important to start including billing and contact language in your Patient Agreement forms to allow your billing department and third-party vendors to contact your patients in the manner that they prefer.  Consider this, 2016 was the first year that saw the threshold of households with only cell phones and no landline surpass 50% and this number is only increasing by the day.  Not only that, but the way in which consumers communicate will change even further as messaging services – in their many incarnations – become more prevalent throughout your patient base and a millennial generation now coming into their own and having surpassed Baby Boomers as the largest living generation two years ago.

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Simon's Agency, Inc. | 4963 Wintersweet Drive, Liverpool, NY 13088 | 315-454-8700

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